Patisserie Valerie
Coverage of strategic shifts, operational recovery, and product development at a heritage café and bakery brand serving the UK’s high streets. This section explores leadership moves, site reopenings, menu innovation, and F&B positioning, providing insight for operators, retail hospitality professionals, and foodservice leaders tracking brand reinvention, consumer expectations, and performance in the premium bakery and café segment.
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Mar- 2019 -18 MarchCafes and Coffee Shops
Patisserie Valerie accounts reveal £94m ‘black hole’
Bakery chain Patisserie Valerie’s consolidated accounts were overstated by £94m, figures released by audit firm KPMG has revealed. KPMG were appointed administrators for the company which collapsed after fraudulent activities were discovered within its accounts. This overstatement of assets is more than double of what was first estimated. Severe misreporting…
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Feb- 2019 -15 FebruaryBusiness
Patisserie Holdings sells Baker & Spice for £2.5m
Patisserie Holdings, trading as Patisserie Valerie, has sold its subsidiary company Baker and Spice to the Department of Coffee & Social Affairs for a total consideration of £2.5m. This follows the announcement of Patisserie Valerie being rescued from administration after it was sold to Irish equity firm Causeway Capital Partners.…
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14 FebruaryBusiness
Patisserie Valerie rescued from administration
Bakery chain Patisserie Valerie has been bought out of administration by Irish equity firm Causeway Capital Partners (CCP) for an undisclosed sum. The transaction was funded with investment from Causeway Capital and the new management of the business. Steve Francis will remain as the chain’s chief executive officer. Some 96…
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11 FebruaryRestaurants
Mike Ashley cancels bid for Patisserie Valerie
Retail tycoon Mike Ashley has cancelled his bid for cake chain Patisserie Valerie, just two days after his Sports Direct group tabled the £15m bid. Sports Direct’s bid was said to be £2m short of the sum administrators KPMG were looking for according to reports in the Financial Times. According…
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Jan- 2019 -29 JanuaryBusiness
Mike Ashley ‘eyeing up’ Patisserie Valerie
Retail tycoon Mike Ashley is reportedly considering buying collapsed cafe chain Patisserie Valerie, just a week after the company fell into administration. The chain confirmed some 71 businesses would close immediately while its remaining 122 stores would continue trading as normal as administrators KPMG looked for a buyer. According to…
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23 JanuaryBusiness
Patisserie Valerie goes into administration
Embattled cafe chain Patisserie Valerie has fallen into administration, four months after “fraudulent” activities were discovered in its accounts. The company was in talks to extend the standstill of its bank facilities beyond 18 January, but discussions failed and it was unable to renew its bank facilities. The company said…
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21 JanuaryCafes and Coffee Shops
Patisserie Valerie future uncertain as talks with bankers continue
The future of embattled cafe chain Patisserie Valerie is still unknown as the company revealed today (Monday 21 January) that it was still in discussions with bankers. Following an investigation by forensic accountants, the company realised its accounts showed signs of “significant manipulation” of the balance sheet and profit and…
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18 JanuaryCafes and Coffee Shops
Lee Ginsburg resigns from Patisserie Valerie board
Lee Ginsburg, non-executive director and deputy chairman of Patisserie Valerie, has resigned from the board just a day after it was revealed that the company’s financial troubles appeared to be in a worse condition than initially thought. He resigned with immediate effect and the company confirmed his departure in a…
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17 JanuaryCafes and Coffee Shops
Patisserie Valerie financial woes worse than expected
Forensic accountants have uncovered “significant manipulation” within Patisserie Valerie’s accounts, suggesting its financial troubles are more extensive than first thought. The company said the work carried out by its forensic accountants since “potentially fraudulent” accounts were discovered in October has revealed that the “misstatement of its accounts was extensive, involving…
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15 JanuaryCafes and Coffee Shops
Patisserie Valerie director resigns with immediate effect
James Horler, the non-executive director of crisis hit cafe chain Patisserie Valerie, has resigned from his role with immediate effect. The company confirmed the news and said Horler had stepped down to “focus on his role as chief executive officer at another business”. He has extensive experience in the hospitality…
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